Why would FIRB reject the underwriting agreement as reported and reject the possible increase in holdings to 40%? FIRB has already set a precedent with MMX and AED to allow overseas investors increase to 40 & 49% so see no problem with the MGX deal. The interesting fact today is that 10% of the issued capital changed hands today so whilst I do believe that the average punter has no interest in participating in the upcoming share placement I believe that there was a large accumulator today that has other ideas. Watch this one over the next few days and if the price does trade higher on unusually high volume I would suggest that the accumulation is strategic with the ultimate aim of securing additional shares in the upcoming placement.
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Last
43.0¢ |
Change
0.005(1.18%) |
Mkt cap ! $523.8M |
Open | High | Low | Value | Volume |
43.0¢ | 43.5¢ | 42.3¢ | $227.4K | 531.0K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 520000 | 42.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
43.0¢ | 12155 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 23300 | 0.430 |
2 | 520000 | 0.425 |
7 | 174561 | 0.420 |
6 | 71816 | 0.415 |
7 | 57839 | 0.410 |
Price($) | Vol. | No. |
---|---|---|
0.430 | 1500 | 1 |
0.435 | 70360 | 4 |
0.440 | 122270 | 4 |
0.445 | 187898 | 6 |
0.450 | 196836 | 5 |
Last trade - 16.10pm 11/07/2024 (20 minute delay) ? |
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MGX (ASX) Chart |